Maryland Code, FINANCIAL INSTITUTIONS 7-201
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maryland Code, FINANCIAL INSTITUTIONS 7-201
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(a) In this subtitle the following words have the meanings indicated.
(b) Unless the context requires otherwise, “credit union” has the meaning stated in § 6-101(d) of this article.
(c) “Credit union share guaranty corporation” means a corporation that is:
(1) Engaged in the business of providing primary share guaranty insurance for the share and deposit accounts of a credit union; and
(2) Regulated under this subtitle.
(d) “Participating credit union” means a credit union that has applied for and been admitted to participation in a credit union share guaranty corporation and whose participation has not terminated.